Hints and tips:
...We think this will end austerity from 2020, defined as real terms cuts in departmental budgets on average....
...It reflects rather the mechanical effect of using “risk-free” yields to compute the present value of cash that will be paid out to pensioners over many decades....
...Contribution Pension Plans....
...So it’ll be a lot of different things, but we plan to do it in a relaxed way....
...However, the biggest sterling support came via the mechanical relationship between bank stocks and sterling....
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